News
InnVest Hotels acquires The Algonquin Resort St. Andrews by‑the‑Sea, Autograph Collection and The Algonquin Golf Course
InnVest Hotels has acquired The Algonquin Resort St. Andrews by-the-Sea, Autograph Collection and The Algonquin Golf Course.
Intelligence
Colliers releases Q1 2023 'INNvestment' report
"Following a swift rebound in 2022, Canadian hotel investment sales surpassed $300 million during the first quarter of 2023. With more than $100M of closed volume so far in Q2 and sizeable deals in the pipeline, we expect year end volume could approach $2 billion," writes Fraser MacDonald, director I Canada at Colliers international hotels.
According to the report, the travel industry remains in solid recovery mode. Entering the summer months, hoteliers can expect a robust operating environment with many reaping top-line revenues. While still highly asset and sponsor driven, a broader offering of hospitality financing is available in the market and continues to improve, supporting a strong rebound in transaction activity.
Read the full report.
